Opening of the week undertone for the european stock Exchanges, and negative for Piazza Affari, at the end of the morning trading loses nearly 2 per cent while the spread (the distance in performance between our bonds of ten-year and German) rises to 185 points, the maximum level reached by November 2016. The Btp in ten years marks a return of 2.34 percent. The main index of the Milan Stock exchange, the Ftse Mib, has the following under the 19mila points: time since last December 16th.
The peak for the spread and the auction of ten-year
The new peak of the spread Btp/Bund 10 years must be placed in a generalised context of rising yields of government of the euro area, which, however, penalizes the Italian paper, both for the current range to medium-long, both the uncertain political situation. To push up yields on the debt of the State of the area there is also the reading of the inflation of Saxony and Hesse, where the annual growth of prices has exceeded the 2% in January . The overall figure will arrive this afternoon and is intended to rekindle the demands of withdrawal of the stimulus measures implemented by the Ecb on the part of large sectors of the policy and the German public. The new Btp ten-year that expires in June 2027 — offered today to 4 billion against a demand that has exceeded the 5 — was placed with a yield to 2,37%, up 60 basis points compared to the auction of December.
Heavy banks
Milan pays, especially the poor performance of the banks: with the maxi capital increase of Unicredit on doors in the climate for the banking sector Italian it is heavy. Among the titles most in need in our market, there is the same Unicredit, which was first suspended, and then come back with a loss of 4.2%. A few hours ago the news of the ok of the Consob, the supervisory authority of the market, the registration document provided by the bank in view of the capital increase by 13 billion. Today, in Milan, is in the program a cda approach to the recapitalisation. In deep red (also Ubi Banca, -6,64% 3,31 euro, which ended in the auction of volatility, the excessive markdowns.
The expectations of the operators
More in general, the market awaits the next moves of the U.s. president Donald Trump, in addition to appointments with the Bank of Japan and the Fomc (between two days), after the contrasting indications coming from the Us Gdp in the fourth quarter. The number one of european Supervision on banks Daniele Nouy in an interview explained that the Italian institutions have yet to do much on the bad loans and will need to be part of the Supervisory further pressure “to do what there is to do.”
Eni and the utility
the Starting shock for Eni, due to a technical error, according to operators, has fallen into the boot of the 5% and then decreases to -2%. Down all the utilities. Weak crude oil with Wti down 0.6% at 52,91 dollars per barrel while Brent declines of a half percentage point to 55,25 dollars per barrel. On the currency market, the euro/dollar remains stable below the level of 1,07 to 1,0696, in line with the values of Friday.
case Agreement-General and the story Mediaset
the financial sector in The drop-down Intesa Sanpaolo and Generali. In the weekend there emerged rumors about contacts in the course on on-going evaluations among investors, Intesa Sanpaolo, about a possible combination with the company in trieste, but the conviction of the operators is the need for a few more days to clarify the scenario on the moves of the ceo of Intesa Carlo Messina, and on the reception of a project of this kind among the members of the General. Meanwhile on Friday, Moody’s pointed out that a possible combination with Intesa would have a negative impact on the creditworthiness of the General. On Friday, the presentation of accounts in the fourth quarter of Intesa Sanpaolo. Red also Mediaset (0.8%) and Telecom Italia (1%), after new rumors emerged over the weekend, and already denials by Fininvest, on an agreement coming between the Berlusconi family, and Vivendi to the creation of a holding company with the Italian assets of the two groups (Mediaset and Telecom).
In the rest of Europe, highlights Vodafone (+3%), which was announced to be in talks to merge their activities in india with Idea Cellular.
January 30, 2017 (amending the January 30, 2017 | 12:44)
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